The bears began the day bringing the market down but after noon, the market rallied with the Dow closing at 10,437, the NASDAQ at 2203, and the S&P 500 at 1110.
The consumer retail sector took a hit today, with companies like JCPenny (JCP), TJ Maxx (TJX) and Macy’s (M) all down over 1%. Tech was a mixed bag as companies like AMD (AMD) climbed 3%, while others like Tellabs Inc. (TLAB) took a 2.5% haircut. Industrial goods and utilities also took a big hit today from the market decline.
Crude oil closed at $79.14 a barrel, up a 0.3% from yesterday. Meanwhile, the dollar gained a little causing gold to climb a mere 50 cents to $1139.70 an ounce.